The Dow Jones Industrial Average (DJIA) added over a full percentage point in value on Friday, climbing around 500 points and vaulting back over 43,500 as market expectations for further rate cuts increased.
The Dow Jones Industrial Average (DJIA) struck a middling tone on Thursday, churning around the 43,200 handle and testing down around 100 points on the day. Price action is hung up on the 50-day Exponential Moving Average (EMA), and investors await any sign of data that could signal a faster pace of rate cuts from the Federal Reserve (Fed).
Dow Jones futures rose Friday after key economic data. Apple, Nvidia stock and Tesla rebounded from Thursday's heavy losses.
The Dow DJIA dropped almost 700 points Friday, booking a back-to-back weekly decline that left it down 1.4% so far in January. That marked the index’s worst performance over the first six trading days of a year since 2016, when it slumped 5.9%, according to Dow Jones Market Data.
The Dow Jones fell Wednesday on surprise jobs data, with Fed minutes next. Nvidia stock looked to bounce back from Tuesday's plunge.
A softer-than-expected December inflation report and strong earnings from the nation's major U.S. banks Wednesday boosted investors' confidence as stocks surged. The S&P 500 and Nasdaq Composite likewise added 1.7% and 2.3%, respectively, while the Dow Jones Industrial Average rose 725 points, or 1.7 percent.
Stocks closed mixed on Monday, with Big Tech names paring losses as the dollar and bond yields climbed amid fading hopes for interest rate cuts ahead of this week's key consumer inflation reports. The blue-chip Dow Jones Industrial Average (^DJI),
U.S. stocks were surging on Wednesday morning as Treasury yields fell after core inflation data came in below expectations, boosting bets that the Federal Reserve will still be able to cut interest rates this year.
SLB helped lead the market after the provider of services to oilfields delivered bigger profit and revenue for the end of 2024 than analysts expected. It jumped 6.1% after it also raised its dividend by 3.6% and said it’s returning $2.3 billion to its investors by buying back its own stock.
Wall Street analyzed the cooler-than-expected producer price index for December on Tuesday and looked ahead to the consumer price index report on Wednesday.
On Tuesday, the Dow Jones Industrial Average rose as traders analysed a lighter-than-expected US producer price index (PPI) report, according to CNBC. The Dow gained 221.16 points, or 0.52 percent, closing at 42,518.28. The S&P 500 advanced 0.11 percent to 5,842.91, while the tech-heavy Nasdaq Composite slipped 0.23 percent to 19,044.39.
The Dow Jones Industrial Average and S&P 500 finished with a third straight day of gains on Wednesday, after December's consumer-price index sparked a relief rally and the biggest plunge in Treasury yields seen in months.